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Home Personal Finance Good news for employees! Salary will increase soon, amount will increase up...

Good news for employees! Salary will increase soon, amount will increase up to 96000 in the account! Know Updates

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EPFO Interest Update: Big news! Interest will not be available on the entire amount deposited in PF account? Know why this happens
EPFO Interest Update: Big news! Interest will not be available on the entire amount deposited in PF account? Know why this happens

Employees will get a big gift soon. Actually, under the seventh pay scale (7th pay commission), an increase in the salary of the employees can be seen. An increase of 4 percent (da hike) has been announced in Dearness Allowance.

Orders have also been issued for this. At the same time, consideration is being given to increase the basic salary. The matter is constantly being discussed by the government with the organizations. By the end of this year, the benefit of increase in the fitment factor of the employees can be seen.

In fact, the employee organizations are continuously demanding to increase the minimum wage limit. At present, the minimum wage limit has been fixed at 18000 whereas the fitment factor is seen very prominently in the increment. The fitment factor is 2.57, which is recommended to be increased to 3.68. In this event, the minimum wage of the employees will be increased from Rs 18000 to Rs 26000. With this, an additional increase of 96000 will be seen in the account of employees annually.

If the information is to be believed, then by the end of December, an increase in the fitment factor can be seen. The increase may see an increase of 8000 in the basic salary. Departmental opinion is being taken for this. With the increase in the basic salary, the employees will be given the benefit of increased DA. Actually DA is determined through basic salary. On the other hand, if the fitment factor increases from 2.57 times to 3.68 times, then there will be an increase of 44.44% in the salary.

Earlier, on the one hand, where the government made it clear to the Parliament that at present no preparations are being made for the 8th Pay Commission. On the other hand, the demand for the eighth pay commission continues by the employees’ union. The employees union says that they are being provided the benefit of less salary through the seventh pay scale, while the recommendation was made higher.

In such a situation, a memorandum has been prepared by the employee organization. In which there is a demand to increase the salary as per the recommendation and bring 8th Pay Commission. However, the government has made it clear that at present there is no idea to implement the 8th Pay Commission. After which the employees are expected to see an increase in the fitment factor soon.

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